Berenberg Bank Reaffirms Buy Rating for Bytes Technology Group (LON:BYIT)

Bytes Technology Group (LON:BYIT)‘s stock had its “buy” rating restated by Berenberg Bank in a research note issued on Thursday, Digital Look reports. They currently have a GBX 520 price objective on the stock. Berenberg Bank’s target price points to a potential upside of 16.49% from the stock’s current price.

A number of other brokerages have also weighed in on BYIT. Jefferies Financial Group reissued a “hold” rating and issued a GBX 450 price objective on shares of Bytes Technology Group in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised Bytes Technology Group to a “buy” rating and lifted their target price for the stock from GBX 410 to GBX 500 in a report on Wednesday, August 26th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of GBX 443.75.

Bytes Technology Group Stock Performance

Shares of LON BYIT traded up GBX 3.20 during mid-day trading on Thursday, hitting GBX 446.40. The stock had a trading volume of 2,891,950 shares, compared to its average volume of 2,627,864. The company has a debt-to-equity ratio of 2.94, a quick ratio of 0.98 and a current ratio of 1.03. The company has a 50 day moving average of GBX 426.17 and a two-hundred day moving average of GBX 381.21. Bytes Technology Group has a twelve month low of GBX 232.92 and a twelve month high of GBX 494.20. The firm has a market cap of £1.03 billion, a PE ratio of 21.52, a PEG ratio of 2.27 and a beta of 0.72.

Bytes Technology Group (LON:BYIT) last issued its earnings results on Tuesday, October 13th. The company reported GBX 12.76 earnings per share (EPS) for the quarter. Bytes Technology Group had a return on equity of 69.17% and a net margin of 21.65%. Research analysts predict that Bytes Technology Group will post 11.35 EPS for the current fiscal year.

Bytes Technology Group Company Profile

BTG is one of the UK and Ireland’s leading software, security, AI and cloud services specialists. With a team of more than 1,200 talented people, it serves around 6,000 customers in the corporate and public sectors, building lasting, trust-based relationships to help organisations get the most from the latest transformative technologies shaping our world.

As a value-added reseller, BTG works hand in hand with more than 100 of the world’s biggest vendors who make or distribute the software, hardware and other IT products that it provides to its customers.